Revolut Launches AI Division and Proprietary Model PRAGMA, Claiming 65% Fraud Detection Boost Across 80 Million Customers
Summary
Revolut launches a dedicated AI division and unveils PRAGMA, a proprietary foundation model built with NVIDIA, reporting a 65% fraud detection boost, 2.3x credit risk accuracy improvement, and 41% better personalized recommendations across 80 million customers in over 40 markets.
Key Points
- Revolut launches Revolut Research, a dedicated AI division developing PRAGMA, a proprietary foundation model built in partnership with NVIDIA to embed native intelligence directly into its core financial engine.
- Early testing of PRAGMA on historical data shows a 2.3x increase in credit risk accuracy, a 65% improvement in fraud detection, and a 41% rise in personalized product recommendation relevance across 80 million customers in over 40 markets.
- Revolut Research plans to publish scientific findings, open-source technical frameworks, and engage the broader scientific community at upcoming conferences including NVIDIA GTC Berlin in October and ICAIF in November.